Capital City Trust Co. FL Cuts Stock Position in Veralto Corporation (NYSE:VLTO)

Capital City Trust Co. FL cut its position in shares of Veralto Corporation (NYSE:VLTO) by 17.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,490 shares of the company’s stock after selling 533 shares during the quarter. Capital City Trust Co. FL’s holdings in Veralto were worth $243,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC raised its position in Veralto by 16.1% in the 4th quarter. Brighton Jones LLC now owns 3,459 shares of the company’s stock worth $352,000 after purchasing an additional 479 shares during the period. Proficio Capital Partners LLC bought a new position in shares of Veralto during the fourth quarter valued at about $84,000. LPL Financial LLC increased its holdings in shares of Veralto by 4.7% in the fourth quarter. LPL Financial LLC now owns 395,336 shares of the company’s stock worth $40,265,000 after buying an additional 17,633 shares during the period. Korea Investment CORP lifted its stake in shares of Veralto by 61.4% in the 4th quarter. Korea Investment CORP now owns 191,133 shares of the company’s stock valued at $19,467,000 after acquiring an additional 72,737 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Veralto by 13.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 393,303 shares of the company’s stock valued at $39,645,000 after acquiring an additional 47,486 shares during the period. 91.28% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Melissa Aquino sold 31,689 shares of the company’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $93.67, for a total value of $2,968,308.63. Following the sale, the senior vice president directly owned 17,434 shares of the company’s stock, valued at $1,633,042.78. This represents a 64.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jennifer Honeycutt sold 10,418 shares of the stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $95.00, for a total value of $989,710.00. Following the completion of the transaction, the chief executive officer owned 106,219 shares of the company’s stock, valued at approximately $10,090,805. This trade represents a 8.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 45,913 shares of company stock valued at $4,339,370 over the last ninety days. 0.36% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Robert W. Baird raised their price target on Veralto from $105.00 to $106.00 and gave the stock a “neutral” rating in a research report on Thursday, May 1st. Citigroup cut their target price on shares of Veralto from $116.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Stifel Nicolaus lifted their target price on shares of Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research note on Monday, July 21st. Northcoast Research initiated coverage on shares of Veralto in a research report on Tuesday, May 6th. They set a “buy” rating and a $110.00 price target for the company. Finally, Royal Bank Of Canada raised their price target on shares of Veralto from $103.00 to $104.00 and gave the stock a “sector perform” rating in a report on Thursday, May 1st. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $111.18.

Veralto Price Performance

Shares of Veralto stock opened at $103.38 on Friday. The business has a 50 day moving average of $100.81 and a 200 day moving average of $98.48. Veralto Corporation has a 52 week low of $83.86 and a 52 week high of $115.00. The company has a market cap of $25.62 billion, a PE ratio of 29.54, a P/E/G ratio of 4.13 and a beta of 0.91. The company has a quick ratio of 1.92, a current ratio of 2.19 and a debt-to-equity ratio of 1.14.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.87 by $0.08. Veralto had a net margin of 16.56% and a return on equity of 45.63%. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the business earned $0.84 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, equities research analysts forecast that Veralto Corporation will post 3.66 earnings per share for the current year.

Veralto Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Monday, June 30th. Veralto’s payout ratio is currently 12.57%.

Veralto Profile

Veralto Corporation provides water analytics, water treatment, marking and coding, and packaging and color services worldwide. It operates through two segments, Water Quality (WQ) and Product Quality & Innovation (PQI). The WQ segment offers precision instrumentation and water treatment technologies to measure, analyze, and treat water in residential, commercial, municipal, industrial, research, and natural resource applications through the Hach, Trojan Technologies, and ChemTreat brands.